Equity for Explorers

Equity for Explorers

22nd November 2018
Greg Barden
for Pixie Stories

Pixie is on a mission to make the world a more local place… and this is your chance to join us

Pixie has a clear mission to create a more local world by connecting locals and travellers with independent businesses, ensuring more money stays in our local communities. We want to make sure that our community have an opportunity to share in our journey as we introduce Pixie to the world. We are now raising £500k from our community in exchange for equity in Pixie #equityforexplorers.

Imagine a world without independent businesses. One with no individuality or variety. Is this one you’d like to live in? Built around this purpose, Pixie is reimagining how people, whether in their local community or travelling, discover, pay and get rewarded for their loyalty across independent businesses. The result is a lifestyle app that keeps independents top of mind and rewards locals and travellers every time they use Pixie.

Over the next few years, we intend to take Pixie global but local.

After a successful pilot in the communities of Bath, Frome and Sherborne, Pixie has gained over 250 independent businesses, 5,000 customers and several partnerships with markets, festivals and events where we have collectively transacted over £250k. With our technology systems and routes to market tried and tested, we’re now ready to start introducing Pixie to the world, starting with London and Bristol where we already have 350 independents live on our discovery platform ready to start accepting Pixie Pay.

Independent businesses add colour and variety to our everyday lives. They celebrate the spirit of individuality and create human experiences that can’t be copied. It’s why we go back to them time-and-time again. We believe independents don’t want our support, what they want is for us to know they are there and that they have something far greater to offer us.

Join a community passionate about creating a more local world. We don’t just stand for independents, we stand up for them.

Investing involves risks including loss of capital. The below FAQs have been approved as a financial promotion by Crowdcube Limited, which is authorised and regulated by the Financial Conduct Authority.

What does pre-registration mean?

Given our existing community base of over 5,000 explorers, we’ve created a pre-registration process to determine who will receive initial access when the investment goes live.

Are there limits on the amount I can invest?

We want to give everyone the opportunity to invest in our future. Therefore, the minimum investment amount is only £10.

Who can invest?

You have to be a Pixie user to invest in Pixie. You can sign up to Pixie for free via the Google Play or iOS app store.

How do I actually invest?

We’ve partnered with one of Europe’s leading crowdfunding platforms – Crowdcube. You’ll need to create an account on Crowdcube here to invest. We advise that you create an account with Crowdcube before the investment round goes live to avoid potentially missing out because you have to sign up to the platform first.

How do I make a return?

Investors will receive equity in Pixie in exchange for their investment. If Pixie makes an exit further down the line via an IPO or a trade sale, if the company’s valuation has increased then you could make a profit on your investment. When investing in early-stage businesses like Pixie, investors should assume that their shares are illiquid and that there is no simple way to sell shares until there is an exit event like IPO or trade sale.

How do you make an investment on Crowdcube?

Go to your campaign link which you will receive by email when we go live on our launch date.

Create member account.

Pledge!

What is KYC and why do I have to pass it?

The KYC (Know Your Customer) checks are in place to ensure there is no money laundering activity on Crowdcube. Most investors will be able to pass KYC automatically by inputting their details, however some may require a manual check. This mostly happens if, for example, you have recently moved and it isn’t yet reflected in various online databases. If you need to pass a manual check you will be asked to send the following supporting evidence to support@crowdcube.com and they will aim to get them approved as soon as possible: government issued photo ID; and

a proof of address document (utility bill, bank statement, or letter from a local / national authority) showing your full name residential address and dated within the last three months.

Which investor profile should I choose?

The Financial Conduct Authority requires us to categorise investors before they invest, as “High Net Worth Investors“, “Self-certified,” “Sophisticated Investors” or “Everyday Investor“. The definitions of these terms are found in the Crowdcube Glossary. If you have any questions about these, please contact support@crowdcube.com.

What are the risks of investing in equity?

All investments carry varying degrees of risk, and investing in early-stage and growth-focused businesses is no different. The main risk associated with investing is that the business will simply fail, and investors won’t get their money back. Illiquidity is another consideration because, even if the business succeeds, investors are unlikely to receive dividends or be able to sell their shares for a number of years. There is also a risk of dilution: if a business requires further capital in the future (a highly likely scenario), and issues more shares in exchange for that capital, the percentage of equity held by earlier investors will decrease. Please take a look at the Crowdcube Risk Warning for more information.